Tesco offloads Giraffe restaurant chain to Boparan

Sat, 11 Jun 2016 | DIVISION SALE

Supermarket giant Tesco has found a buyer for its distressed Giraffe chain of restaurants in the form of Harry Ramsden’s owner Boparan.

Boparan, the investment company set up by British businessman Ranjit Singh Boparan, has acquired the loss-making Giraffe restaurant group for an undisclosed sum. Boparan is also known as the “Chicken King” as a significant part of its business interests lie in supplying poultry and ready-meals to supermarkets including Tesco.

The move will see Boparan, which already owns fish ’n’ chips restaurants Harry Ramsden’s, London-based chain Fishworks and exclusive Westminster-based Indian restaurant The Cinnamon Club, increase its presence in the UK food and drink sector. Boparan also owns Northern Foods, famous for the Goodfella’s pizza and Fox’s biscuit brands.

As the Business Sale Report previously covered, Tesco had been looking for a buyer for the Giraffe brand since late March 2016. The latest sale is part of chief executive Dave Lewis’s plan to offload most of its non-grocery businesses in order “to make significant progress on our strategic priority of protecting and strengthening our balance sheet”.

Mr Lewis said of the Giraffe division sale: “As we stabilise the business in the UK, we continue to focus on where we can best serve the needs of our customers, while ensuring our business remains sustainable for the long-term.

“Giraffe is a much-loved brand, and while casual dining remains an important part of the shopping trip for many of our customers, we will continue to meet these needs through our Tesco Cafés and other providers.”

Boparan’s purchase will see the company take over all 54 standalone Giraffe restaurants across the UK, including 12 franchise outlets and three restaurants within Tesco complexes up and down the country.

For more information, see other restaurants for sale.


Share this article



Latest Businesses for Sale

Provider of Fabrication Services
North East, UK

Provides a range of fabrication services, manufacturing specialist components for a diverse client base. Each process is overseen by the business, including design, project management and installation. Offered for sale to facilitate growth under the...

Asking Price: Offers Invited
Turnover: £3,100,000

LEASEHOLD


Refrigeration Solutions Company (Fast Sale)
North of England, UK Wide

Indicative offers are required by close of business Friday 3rd April. The Business is able to produce cost effective robust solutions to companies predominately within the food and drink industry. Established refrigeration solution business. Strong y...

Asking Price: Offers Invited
Turnover: £300k - £1m

Educational Workshop Machinery Design, Supply & Installation
UK Wide

The business is a very well-established supplier to into the Education Sector, with additional links to The Prison Service, Hospitals, Theatres and Care Homes, all providing excellent opportunities for growth. Offers invited.

Asking Price: Offers Invited
Turnover: £1,600,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
Mar
 

Addison Lee acquired by consortium of investors | BUSINESS SALE

Addison Lee Group, London’s biggest private care hire ...

 
26
 
Mar
 

Leicestershire building products firm enters administration | ADMINISTRATION

Leicestershire-based System Building Products Limited has en...

 
25
 
Mar
 

Kaupthing plans sale of Oasis and Warehouse | BUSINESS SALE

Icelandic-owned UK women’s fashion retailers Oasis and...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
14
 
Mar
 

Outsourcing giant plans £700m asset sale | DIVISION SALE

One of the country’s largest outsourcing players, Capi...

 
19
 
Apr
 

Tesco selling optician business to Vision Express | BUSINESS SALE

Tesco is to sell its in-store optician business to Vision Ex...

 
27
 
Jan
 

Tesco acquires Budgens and Londis owner Booker for £3.7bn | BUSINESS SALE

UK supermarket giant Tesco is to buy food wholesaler and con...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources